Solitario Exploration & Royalty

Solitario Exploration & Royalty

Sector: Gold Ores Region: CO, United States

: | NYSE MKT: XPL | Toronto Stock Exchange: SLR

An Emerging Gold Producer With A Financed High-Grade Zinc Project:

With completion of the Mt. Hamilton feasibility study and Plan of Operations in 2012, Solitario Exploration & Royalty Corp. (NYSE MKT: XPL; TSX: SLR) is ontrack to become one of the newest U.S. gold producers. The Mt. Hamilton gold project in eastern Nevada is a development-stage project with operating cash costs of $575/oz. and an 8-year mine life averaging 54,000 ounces per year. Capital costs to place the project into production are estimated at $72 million. Resources have nearly doubled since acquisition, and with the recent addition of the Seligman deposit, Solitario is now evaluating a nine-to-ten year, 60,000 oz./year production schedule. Initial production is slated for second half-2015.

Our second most important asset is our high-grade Bongará zinc project in Peru that is joint ventured with Votorantim Metais, the fifth largest zinc producer in the world. Nearly $60 million has been spent on the property to date where recent drilling results identified some of the highest grade intercepts in the history of the project. Solitario recently engaged SRK Consulting to complete an initial NI 43-101 technical report on resources at Bongara which should be completed before the end of May, 2014. Vo¬torantim continues to conduct advanced engineering studies and is also planning a 6,000 meter dilenation drilling program for 2014. Solitario’s 30% interest is fully funded through the start of production by our partner, Votorantim, making it a dilution-free project to Solitario and its shareholders.

Our focus is on gold and silver, but we have advanced projects with platinum-palladium, zinc and lead. Solitario’s success has been fueled by its ability to identify large-potential early stage exploration properties and subsequently leverage these successes into partnerships with senior mining companies including, Anglo Platinum, Hochschild Mining, and Votorantim Metais. Our joint ventures are structured very similar to Net Profit Interest Royalties in which we are essentially financed through production to cash flow. In 2014, our partners will spend over $11 million on our projects. With this business strategy we greatly reduce financial risk and minimize shareholder dilution, while continuing to build a pipeline of exploration projects.

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CEO Chris Herald interview on Kitco News

Chris Herald, CEO of Solitario Exploration & Royalty Corp. (AMEX: XPL; TSX: SLR), joins Daniela Cambone of Kitco News to talk zinc prices and base metals as part of our continued coverage of Gold Stock Analyst's "Annual Investor Day 2013". Kitco News, Feb. 27, 2013.

Solitario Exploration & Royalty  video

CEO Chris Herald interview on Kitco News


Christopher E. Herald, President & CEO
Mr. Herald has been a director of Solitario since August 1992. He has also served as Chief Executive Officer since June 1999 and President since August 1993. Mr. Herald also served as a director of Crown since April 1989, as Chief Executive Officer of Crown since June of 1999, President of Crown since November 1990 and was Executive Vice President of Crown from January 1990 to November 1990. Prior to joining Crown, Mr. Herald was a Senior Geologist with Echo Bay Mines and Anaconda Minerals. Mr. Herald currently serves as Chairman of the Denver Gold Group, a not-for-profit industry association recognized for organizing preeminent North American and European gold conferences for institutional investors. Mr. Herald also serves on the board of Atna Resources Ltd. (TSX: ATN). Mr. Herald received a M.S. in Geology from the Colorado School of Mines and a B.S. in Geology from the University of Notre Dame.
Walter H. Hunt, Chief Operating Officer
Prior to his appointment as COO in June of 2008, Mr. Hunt was Vice President - Operations and President - South American Operations of Solitario since June 1999. He also served as Vice President - Peru Operations from July 1994 until June 1999. Prior to its acquisition by Kinross Gold Corp. in August 2006, Mr. Hunt was Vice President Operations of Crown since 1994. Mr. Hunt has over 30 years of exploration, development and operational experience with Anaconda Minerals, Noranda and Echo Bay Mines where he served as Superintendent, Technical Services and Chief Geologist at Echo Bay's Kettle River Operations. Mr. Hunt received his M.S. degree in Geology from the Colorado School of Mines and a B.S. degree from Furman University.
James R. Maronick, Chief Financial Officer
Mr. Maronick has served as Chief Financial Officer of Solitario and Chief Financial Officer of Crown since June 1999 and served as Vice President - Finance and Secretary/Treasurer and Vice President - Finance and Secretary/Treasurer of Crown since September 1997. Prior to that, Mr. Maronick served as Vice President - Finance and Secretary/Treasurer of Consolidated Nevada Gold Fields Corporation from November 1994 to September 1997. Mr. Maronick graduated with honors from the University of Notre Dame in 1977 with a BA in accounting and received his Masters degree in Finance with highest honors from the University of Denver in 1986.
Brian Labadie, Chairman of the Board
Mr. Labadie has been a director of Solitario since June 2006. He is an independent mining industry consultant. He also was a director of Crown from June of 2002 until August 2006 upon completion of the Crown-Kinross merger. Mr. Labadie has over thirty years experience in the mining industry including ten years with Miramar Mining Corporation from November 1996 to September 2006 as the Executive Vice President, COO. Prior to that, Mr. Labadie spent nine years with Echo Bay Mines, Ltd. as Vice President of Operations, including full operational and management responsibility for the Kettle River Mine in Republic, Washington. Mr. Labadie holds a Bachelor of Science degree in geological engineering from the University of Toronto.

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